How do I manage cost models?

This article shows you how to manage the Cost Models, which are used in the Cost Modeler for what-if scenario modeling costs.

1. Navigate to Cost Categories

  1. Select the Settings Gear icon on the Icon Bar.
  2. Under the Cost Management heading, select Cost Models.

2. Manage the Cost Models

Click the Add, Modify, and Delete buttons to manage the Cost Modeler versions. To modify or delete, you must first select which version to modify or delete.

  1. Select a Cost Model to modify.
  2. Click the Modify button.

Note: A use case scenario for adding a new Cost Model could be if you want to do what-if scenario modeling on a different cost type other than Budget, since there is a Budget Model by default. If you create a new Cost Type, such as Estimates, you may want to create a new Cost Model for the Estimates Cost Type.

3. Modify the Cost Model Settings

  1. Name: Enter of modify the Cost Model name.
  2. Description: Enter or modify the Cost Model description.
  3. Fiscal Calendar: Select the Calendar to be used for this Cost Model.
  4. Custom Field for Select flag: Select the desired flag. If you are using the Optimizer, this will typically by the OptimizerFlag.
  5. Cost Types: Select a single or multiple Cost Type(s) to show in the Modeler when this Cost Model is in use.

4. Modify the Cost Model Versions

  1. Click the Add, Modify, and Delete buttons to manage the Cost Modeler versions. To modify or delete, you must first select which version to modify or delete.

Note about Versions: When users are creating scenarios in the Modeler, they can choose to copy the what-if scenario model into a Version. Then, they'd be able to open and compare the Versions. You can have Versions that are general numbers (ex: 1, 2, 3). Another use case would be to create a Version for each of the executives who are using the Modeler, so that they can compare Mark's Version to John's Version, etc.

5. Modify the Cost Model Version

  1. Name/Rename the Model Version.
  2. If needed, you may configure which groups have access to this Model Version. Select whether the groups have Read and/or Write access for the Version. See note below.
  3. When finished, click the OK button.

Note: The Cost Model Versions can have security enabled, so that only certain security groups have access to Read and/or Edit the Version. These are using the PortfolioEngine Permissions Groups. By default, all the Version have open security, so that anyone with access to open the Modeler would have access to all the Versions in this Model. If you update the security, then only those in the groups specified would have access.

6. Save and Close the Cost Model

  1. When finished, click OK.

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